Stock Pick - Citigroup: A new strategic template?

Citigroup rose almost 50% since I recommended it as a compelling buy last summer as its valuation metrics were a joke relative to its franchise value, if not tangible book. Citi offered another opportunity to accumulate in the trading book last week at 34 as its 12% fall since Election Day was due to political noise on Asia recession scenarios required by the Federal Reserve capital stress test and the hoofbeats of the hedge fund herds eager to chase the high beta US housing rainbow via Bank of America, the best performing Dow share of 2012.